The Industry Life-Cycle of The Size Distribution of Firms∗
نویسندگان
چکیده
This paper analyzes the evolution of firm size distribution in the U.S. manufacturing industries over 35 years from 1963 to 1997. Firm size distribution undergoes systematic changes, the magnitude and the direction of which depend on whether an industry experiences a phase of growth, shakeout, stability, or decline. The observed patterns have implications for the theories of industry dynamics and evolution. JEL Classification: L11, L60.
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